
3^ 




TEMPLE COURT. 

5 Beekman Street, 

NEW YORK, 



THE 



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Capital, - - - $1,000,000. 

Divided into Ten Thousand Shares of $100 each. 



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NEW YORK : j 

Douglas Taylor, Printer, 89 Nassau Street, corner Fultou. i 

1882. 







9 5-2.32721 



TRUSTEES. 

D. G. LiTTLEFiELD, of Pawtuckct, R. I. 
A. H. Elliott, of New York. 
John H. Seed, of New York. 
Chester H. Pond, of New York. 
George A. Scott, of New York. 
Bernard C. Lauth, of Philadelphia. 



OBJECT. 



The object of this Company is to operate 
a business under letters patents which relate to 
the use of electricity in actuating devices to 
denote the seconds, minutes and hours of 
time. 

This subject has been a matter of experi- 
ment for many years; and to an extent has 
shown that electricity, for the general distri- 
bution of standard time was feasible, if it could 
be practically applied. 

Nevertheless past efforts have failed to 
complete a system which would give substan- 
tial and desired results. 

Failure has resulted from the intricate 
mechanism employed, as also from the imper- 
fect and unreliable means which have been 
adopted to form and break circuits for the 
division of time. 

Again attention has solely been devoted to 
the mechanism used, and no thought given to 
the business detail necessary to make a perfect 
system popular with the public, as also prac- 
tical in all details. 



TIME TELEGRAPH COMPANY. 



The mechanical and electrical system 
adopted by The Time Telegraph Company 
embraces portions of numerous devices, which, 
as a whole, embody all that is necessary to 
render service with reliable economy. 

That the electrical and mechanical devices 
used by this company are practical and satis- 
factory is proven from the fact that the sys- 
tem is used and accepted for two years past 
by one of the largest railway corporations in 
the United States. 

The business method adopted embodies a 
plan which makes an introduction of the time 
indicators popular, as also with least objection 
from public or private rights. The simplicity 
of the mechanism is such as to enable an un- 
skilled person to keep and regulate time with 
unvarying accurancy. Moreover, a youth of 
moderate intelligence and years, can render a 
time service of equal value to that of any ex- 
pert. 

The Method of Introduction 

will be to run an electric circuit block by block, 
and seldom cross streets with the wires. By 
placing primary regulators on every block, the 
crossing of streets and suspension of wires on 



TIME TELEGRAPH COMPANY. 



poles is entirely avoided, because it is intended 
to fasten the wires to the rear of buildings 
and returning to the regulator thus complete 
an interior circuit of the square. 

Attached to the wires, between regulators, 
are the indicators, and there being but a 
single regulator on any block, it follows that 
every indicator in circuit with any regulator 
must keep uniform and standard time. 

Business System. 

This Company does not propose to engage in 
the introduction of their indicators with 
subscribers. The plan will be to license sub- 
sidiary companies in various districts through- 
out the United States, and to these companies 
sell the indicator and accessories therewith. 

In consideration of the license, a specified 
portion of shares or cash and shares, or a 
license fee on the gross rentals received, will 
be accepted of each company, and all such 
companies will be restricted to a capitalization 
of one indicator to a stated number of the 
population of cities within the district licensed. 
Again, this Company reserves the sole right 
of manufacture and sale of apparatus to the 
various companies. 



TIME TELEGRAPH COMPANY. 



In the promotion of companies all agents 
will have written authority to act, subject to 
a form of license made part thereof, and which 
will embody the amount of capitalization, 
terms, conditions, and agreements to the 
specified territory to be licensed. 

No representative will be permitted to ac- 
cept any bonus or profit from any company 
being promoted, or from any individual there- 
with, or from any person or firm taking license 
to a district. 

Printed forms of contract to be used in the 
promotion of subsidiary companies ; also forms 
of statements of accounts and of dividends to 
be used by such companies for transmission 
to this Company, are supplied to parties en- 
gaged in the formation of such companies. 

Every subsidiary company upon receiving 
license agrees, in writing, to purchase a speci- 
fied amount of indicators and accessory appli- 
ances therewith. 

Every company agrees to adopt, use, and 
employ indicators of this Company only. 

Every such company will make monthly- 
returns of its business ; this being asked be- 
cause this Company has no representation in 



TIME TELEGRAPH COMPANY. 



the directory and executive management of 
any subsidiary company. 

All companies will transmit a full statement 
of the indicators they place in use by giving 
the name and address of each subscriber, the 
date rental begins, and the number of the in- 
dicator so placed. 

Standard rates of rental will be adhered to 
by every compan}^, and any violation thereof 
incurs a forfeiture of the entire rentals where 
the excess of established rates are charged. 

Any duly authorized agent of this Com- 
pany may inspect books of account of any 
subsidiary company, at all reasonable times, 
and take extracts or copies therefrom. 

All statements of business account will be 
transmitted on forms similar to the printed 
forms supplied by this Company. 

Providing any company should become in- 
solvent, their license at once is to be void, 
and all rights conveyed to revert to this Com- 
pany. 

Any failure to perform any covenant makes 
contract void, except such company remedy 
the violation within two months after written 
notice. 



lO TIME TELEGRAPH COMPANY. 



Subsidiary Companies. 

Subsidiary Companies will furnish indicators 
to subscribers upon rental ; one style being 25 
cents and another 50 cents per month. 

Indicators will be furnished in two sizes 
of dials, viz., six and twelve inches, the 
smaller being suitable for residences and of- 
fices, whilst the larger one will be more suit- 
able for large rooms and stores. Either of 
them will be furnished without charge beyond 
rental. 

Another indicator of twenty inches diameter 
denotes time by seconds, minutes and hours, 
and is rented at one dollar monthly, it also 
being placed with the subscriber without other 
charge. This latter is suitable for factories, 
railway stations, jewelers, &c. 

Rents will be payable in advance, begin- 
ning the first day of the month following the 
month in which the indicator is put into opera- 
tion, and at a future time it is intended to 
make a discount upon rentals which are paid 
annually in advance. 

Providing many indicators should be used 
by one person, as in the several rooms of a 



TIME TELEGRAPH COMPANY. II 

hotel, or public institution, then the standard 
rate would be liberally reduced. 

Printed envelopes will be supplied subscrib- 
ers, in which they are requested to place their 
subscription rental when due, so that the col- 
lector will not be delayed when calling. These 
envelopes will represent each month of the 
year, and will have spaces thereon for the 
name and residence of the subscriber and the 
number of the indicator for which rental is 
enclosed. 

Subscribers will sign a receipt for the indi- 
cator left with them, and the receipt must 
contain the full address of the subscriber, as 
also the number of the indicator. 

Every collector of rentals will be in uni- 
form, as also have an authorized document or 
badge, which must be shown when requested 
by a subscriber. 

Subscribers changing residence must give 
one week's written notice to the Company, 
and state what disposition is to be made with 
the indicator. If changed to another circuit 
a nominal charge will be made, but if to a 
section in which there is no circuit, then 
special arrangement will follow. 



TIME TELEGRAPH COMPANY. 



No indicator must be removed except by 
an authorized agent of the Company. 

Should an individual or firtn prefer to 
operate the business within a district, they 
may pay 20 per cent, on the gross rental 
received by them ; for example, on 25 cents 
they would pay 5 cents, and on 50 cents they 
would pay 10 cents. This would apply to a 
district where about one thousand indicators 
were employed. 

Providing any company should provide and 
place indicators in use in smaller interior 
cities, then they may pay a person 25 per 
cent, of the gross receipts as compensation 
for attention to the indicators, collecting rent- 
als, supplying chemicals and making returns 
and reports of the business. 

Remarks. 

In comparison with other business systems 
which are associated with the use of tele- 
graphs, this system possesses decided advan- 
tages : 

First. — The use of wires will not be objec- 
tionable to any great extent, because no poles 
will be required, as the wires will be carried 



TIME TELEGRAPH COMPANY. 13 

along from house to house, seldom crossing 
streets ; but if so, they may be stretched from 
roof to roof, or placed in pipes under the 
roadway. 

Second. — The placing of wires will not meet 
with opposition from authorities, because they 
are removed from sight, except at rare inter- 
vals, in most cases the wire being run along 
the rear of buildings, and thus complete the 
circuit of a block. 

Third. — Rights of way will be easily ob- 
tained, because some occupant of every build- 
ing is likely to be a subscriber. 

Fourth. — Wherever the regulators will be 
placed, privileges therefor may be secured by 
offering free rental of an indicator, or else 
giving a superior indicator at the lower rate 
of rental. 

The modus operandi will be to select some 
promiment business place and solicit the privi- 
lege of placing with the occupant a handsome 
case containing the regulator instrument and 
its indicator, and therewith offering to furnish 
standard time free of charge, or at a reduced 
rental. 



14 TIME TELEGRAPH COMPANY. 

From hence a wire will be carried from 
house to house around the interior of a square, 
and returning to the regulator, thus complete 
the circuit. 

If the square is composed of many build- 
ings, with various occupations in each house, 
like districts having many business offices, 
then each square would be a circuit to itself. 
If the square is mostly residences, then the 
circuit may radiate to comprise not less than 
four full squares. 

In the districts of cities where many offices 
exist, it is likely that subscribers would be had 
amounting to hundreds per square. 

In canvassing for subscribers throughout 
the block in which the offices of this company 
are located, excellent results have been had by 
simply distributing descriptive circulars, to- 
gether with subscriber's forms in blank. These 
have brought sufficient subscribers to com- 
pensate for running wires around the square. 
Once in use, other residents will add to the 
numbers first obtained. 

To effect good results, it is imperative that 
persons of temperate habits and respectable 
character should represent every company. 



TIME TELEGRAPH COMPANY. 15 

thereby producing agreeable relations between 
the public and the Company. 

Starting out with a reasonable charge to 
the patron will stimulate a kindly feeling and 
do much to promote the welfare and continued 
prosperity of any company wherever organ- 
ized. 

It is the intention to deal liberally with the 
public, and to place the use of the system on 
so low a basis that it will be within the means 
of all to use the indicators. 

It is an unwise poHcy to burden a business 
enterprise with unreasonable charges, for it 
stimulates opposition from the public, and 
thereby limits the introduction of the article 
into general use. 

Again, limiting the capitalization to a proper 
proportion of demand will insure satisfactory 
returns on the investment made. 

Finally, we start out our system under 
sound business principles, and having fortified 
the same by Letters Patent obtained through 
the advice of the experienced firm of Pope, 
Edgecomb & Butler, we confidently anticipate 
a prosperous and successful future. 



TIME TELEGRAPH COMPANY. 1 7 



EXAMPLES. 

The following examples refer to the ex- 
penses and profits accruing to subsidiary com- 
panies, as also the share interest paid to this 
Company for grant of license. The expense 
figures are unquestionably within any probable 
outlay for construction and maintenance of 
plant. 



1 8 TIME TELEGRAPH COMPANY. 



THE FIRST EXAMPLE 

is based on a plan of Subsidiary Companies 
licensing individuals in the smaller cities of 
their district to purchase indicators of them, 
and operate the same by paying the Subsidiary 
Company a license fee of 20 per cent, on the 
gross amount of rentals received. This plan 
saves to the Subsidiary Companies the invest- 
ment required for the various smaller cities, 
for illustration: a jeweler in a city of 5,000 
population would apply to the Subsidiary Com- 
pany saying he could put into use 300 indica- 
tors. These 300 indicators would cost the 
jeweler $2,400 all disbursements included,when 
the indicators were paid for and in use with 
the various subscribers. The following result 
would follow : 
Investment, ----- $2,400 



Income, at 3.90 $1,170 



Expenses — Chemicals, - - $53 
Contingent, - - 50 

Royalty to Subsidiary Co., - 234 337 



Net profits, - - - - - - $833 



TIME TELEGRAPH COMPANY. 19 



In this instance no rent of office is required, 
the jeweler using his own store for business 
purposes and not occupying to exceed one- 
fourth of his time. 

Another ilhistration would be that of an in- 
dividual or persons, in a city of 15,000 or 
20,000 population, applying for a license with 
the intention of renting 1,000 indicators. 



investment, _ - . - 


- ;^o,ooo 




Earnings, - - - - 
Expenses — Chemicals, 

Contingent, - 
Royalty to Subsidiary Co., 


- $175 

150 

- 780 


$3,900 
i>io5 






Net profits, - - - 


$2,795 



In this instance one boy may collect all the 
rents, and the 1,000 indicators could be oper- 
ated from a single regulator, thus requiring 
but a single weekly inspection of the regula- 
tor. 



20 TIME TELEGRAPH COMPANY. 



THE SECOND EXAMPLE, 

based on a population of 300,000, provides for 
the following disposition of shares: 

Shares for subscription at 50 per cent. $40,000 
Shares issued in payment of license - 52,000 
Shares remaining in treasury of Sub- 
sidiary Company, ----- 108,000 



Total share capital, - - - $200,000 



Amount realized on first subscription $20,000 
1,500 indicators at $8 each, - - - 12,000 



Cash balance in treasury, - - $8,000 



TIME TELEGRAPH COMPANY. 



Earnings. 
16,000 indicators at $3.90, 



$62,400 



Expenses. 

Manager, ^ - - ~ - - $1,800 

Secretary, 1,200 

2 Inspectors, ----- 2,000 

2 Bookkeepers, - - - - 1,800 

10 Boys, - - - - - - 3,000 

Chemicals, - - - - - - 2,800 

Office, - - - - - - - 1,000 

Contingent, - - - - - - 2,400 



16,000 



Net profits over 23 per cent., - $46,400 
This example applies to the district of 
Pittsburgh, Pa., with a population exceeding 
370,000. 



22 TIME TELEGRAPH COMPAN\ 




1 

i THE THIRD EXAMPLE, 

based on a population of 600,000, pre 
; the following distribution : 

i Shares for subscription at 50 per 

cent., 

Shares issued in payment of license, 
Shares remaining in treasury of Sub- 
sidiary Company, ------ 

Total Capital, - - _ . 

Amount realized on first subscription 
! 3,500 indicators at $8 each, - - - 

Cash balance in treasury, - - 


)vides for 

$100,000 
130,000 

270,000 


$500,000 


1 
$50,000 

28,000 


822,000 



TIME TELEGRAPH COMPANY. 



23 



H-ikNINGS. 

40,000 indicators at $3.90 each, - 

Expenses. 

Manager, ------ $2,500 

Secretary, ------ 1,500 

4 Inspectors, 4,800 

Bookkeeper and 3 Ass'ts, - 3,600 

25 Boys at $300, - - - - 7,500 

Chemicals, ------ 7,000 

Office, ------- 1,200 

Contingent, 6,000 



$156,000 



34,100 



Net profits over 24 percent., - - $121,900 

This example applies to the district of Long 
Island, N. Y. 



24 TIME TELEGRAPH COMPANY. 



THE FOURTH EXAMPLE, 

based on a population of 900,000, provides for 
for the following distribution of shares : 
Shares for subscription at 50 per 

cent., - - . ^140,000 

Shares issued in payment of license 182,000 
Shares remaining in treasury of Sub- 
sidiary Company, ------ 378,000 



Total capital, - - - $700,000 

Amount realized on first subscription $70,000 
5,000 indicators at $8 each, - - - 40,000 



Cash balance in treasury, - - $30,000 



I 



TIME TELEGRAPH COMPANY. 25 



Earnings. 
56,000 indicators at $3.90 each, - - $218,400 

Expenses. 

Manager, $2,500 

Secretary, ------ 1,800 

5 Inspectors, 6,000 

I Bookkeeper and 4 Ass'ts, - 4,200 

37 Boys at $300 each, - - 11,100 

Chemicals, 95700 

Office, ------- 1,500 

Contingent, 10,000 

46,800 

Net profits over 24 per cent., - - $171,600 

This example applies to the district of 
Boston, Mass. 



26 TIME TELEGRAPH COMPANY. 



THE FIFTH EXAMPLE, 

based on a population of i^ooOjOoo, provides 
for the following distribution of shares : 

Shares for subscription at 50 per 

cent., --------- $200,000 

Shares issued in payment of license - 260,000 
Shares remaining in treasury of Sub- 
sidiary Company, 540,000 j 



Total capital, - . . . $1,000,000 



Amount realized on first subscrip- 
tion, $100,000 

7,000 indicators at $8 each, - - - 56,000 



Cash balance in treasury, - $44,000 



TIME TELEGRAPH COMPANY. 27 



Earnings. 

80,000 indicators at $3.90 each, - $312,000 

Expenses. 

Manager, .--_.- $3,000 
Secretary, __-_._ 1,800 
8 Inspectors, ----- 9^600 

I Bookkeeper and 6 Ass'ts, - 5,400 
50 Boys at $300 each, - ■ 15,000 
Chemicals, ------ 14,000 

Office, ------- 2,000 

Contingent, ------ 12,000 

62,800 



Net profits nearly 25 per cent., $249,200 

This example applies to the district of 
Manhattan (N. Y. City), with a population 
exceeding 1,200,000. 



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